U.S. Cosmetics Company in Talks to Purchase the 11-Story Point Jingan

SHANGHAI—U.S. cosmetics company Mary Kay Inc. is in talks to buy an office building in Shanghai as part of its expansion plans in China, bucking the trend in a country where rivals have eased back.

The Texas-based direct-sales beauty company said in an emailed statement that it is in negotiations to buy the Point Jingan, an 11-story building in Shanghai's central Jing An District. The price could total 820 million yuan ($135 million),...